In a Facebook post addressed to his recently born first child, Facebook founder Mark Zuckerberg subtly made two major announcements. One, his wife Priscilla gave birth to a baby girl named Max. Two, Mark and Priscilla will give away 99 per cent of their Facebook shares within their lifetimes.
The money will go to the newly founded Chan Zuckerberg Foundation. (Spoiler: It sounds kind of like the Bill and Melinda Gates Foundation except not so old.) Zuck writes in a letter to his daughter Max:
We will give 99% of our Facebook shares — currently about $45 billion [£29.8 billion] — during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.
That’s a lot of money. It’s unclear how much the parents are putting away for their children’s inheritance. Regardless, it’s a joyous occasion for the family, and for the world, which is now 99-per cent of Zuckerberg’s Facebook shares richer.
Image via Mark Zuckerberg